Comptroller's Office Issues Proposed Policy Revision

Kirdavis, THE JOURNAL RECORD

The Office of the Comptroller of the Currency has issued a proposed
revision of its disclosure policy regarding notices issued pursuant
to a change in bank control.

Officials said the Comptroller believes the greater public good
would be served by announcing in the majority of cases the receipt of
the change of control notice, the name of the affected institution,
the proposed purchaser, and the earliest date at which the
transaction may be completed.

All other information the Comptroller proposes to remain
confidential, as currently treated.

The Comptroller is soliciting comments on its proposals.
Particularly sought are opinions on:

- To what extent would early release of information be useful in
soliciting information from the community as to whether a notice of
disapproval should be issued;

- To what extent would interest of the purchaser be prejudiced
by the early disclosure of its existance. . .

- First National Holding Company of Tulsa has applied to the
Federal Reserve to become a bank holding company by acquiring 100
percent of the voting shares of First Jenks Bancorporation, Inc. of
Jenks, thereby indirectly acquiring First National Bank of Jenks.

In addition, Kingfisher Bancorp, Inc. has applied to the Federal
Reserve to become a bank holding company by acquiring 100 percent of
the voting shares of Kingfisher Bank and Trust Co. . .

- New England Mutual Life Insurance Co. contributed over $29.7
million to the Oklahoma economy in 1984, according to Edward E.
Phillips, chairman of the board.

Of that amount, $10.1 million was paid to policyholders or their
beneficiaries, including $1.5 million in dividends.

The remaining $19.6 million was injected into the state's economy
through the company's current mortgage and real estate investments.

On the national level, the firm made record payments of $1.5
billion in benefits to policyholders and beneficiaries during 1984,
including dividends of $221 million. The company's assets under
management, including those of its subsidiaries, are approaching $23
billion.

In Oklahoma City, New England Life is represented by Wilson and
Associates, 4900 Richmond Square.

- The Central Oklahoma Society of the Institute for Certified
Financial Planners will hold a continuing education seminar at 9 a.m.
July 13 at the Acacia Inn, located at the corner of Reno and Eastern
Avenues.

Speakers at the seminar include business consultant W. Paul Woody,
who will address "Tax Planning for Small Businesses and Individuals,"
and August Helmbright, tax manager with Arthur Young and Co.

Helmbright will discuss current tax issues.

The seminar provides all certified financial planners with three
hous of continuing education credit. . .

Since 1949, the annual 10 Uncommon Values portfolio have
appreciated 17,283 percent. An original investment of $10,000
rolled-over into each year's new selections would be worth $1.7
million as ofMay 31, not including adjustments for dividends,
commissions and taxes, officials said.

Over the past 36 years, the portfolio has outperformed both
inflation and the Standard and Poor 500. As a result, officials
said, "10 Uncommon Values" is one of the most watched research
announcements. . .

Print this page

While we understand printed pages are helpful to our users, this limitation is necessary
to help protect our publishers' copyrighted material and prevent its unlawful distribution.
We are sorry for any inconvenience.